AWTX director invests 3.3 million in the company

In a notification sent to the PSX on 01/04/2024, Allawasaya Tex. & Finishing Mills Ltd (AWTX) reported a transaction by one of its executive directors.

The transaction was carried out by Mian Idrees Ahmed Sheikh, who is an executive director.

He bought a total of 2378 shares of the company at a price of Rs. 1395 per share. The total amount for this transaction stands at Rs. 3,317,310.

An insider buying stock in a company is often interpreted as a positive signal by investors. It suggests that those with intimate knowledge of the company’s operations and prospects believe the stock is undervalued or poised for growth, leading to a positive impact on the stock price.

AWTX shares were last trading at Rs. 1352 today.